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08Oct2015 Market Close: Markets Close Higher, DOW Up 138 Points, Feds Uncertain On Global Economy

Written by Gary

U.S. markets rose after minutes from last month's Federal Reserve meeting suggested the central bank is looking for additional inflation before increasing interest rates. Volume remained moderate to light as many investors are weighing the odds of the markets advancing or declining. Short-term indicators are strongly bullish at the close, but most averages remain at or just below major resistance levels.

Todays S&P 500 Chart

U.S. oil futures rose Thursday, briefly topping $50 a barrel for the first time since July, as traders looked past immediate high supplies and focused on expectations of shrinking U.S. production. The Fed Minutes show that while the Fed saw key economic data as reaching market expectations, uncertainty on the global economy weighs on the Fed. Fed's Williams repeats he sees Fed liftoff warranted later in 2015.

The Market in Perspective

Here are the headlines moving the markets.

Fed awaiting evidence global chill not knocking U.S. off track: minutes

WASHINGTON (Reuters) - The U.S. Federal Reserve thought the economy was close to warranting an interest rate hike in September but policymakers decided it was prudent to wait for evidence a global economic slowdown was not knocking America off course.

Oil surges to settle at three-month high on bullish outlook

NEW YORK (Reuters) - Oil prices climbed to their highest in three months on Thursday after a closely watched oil forecaster predicted prices would climb to $75 over the next two years, adding to early gains notched after a rally in Chinese stocks worries about Syria.

S&P rises slightly after Fed minutes released

(Reuters) - The S&P 500 and Dow indexes gained slightly and Nasdaq pared losses on Thursday after the Federal Reserve released minutes from its September meeting at which the U.S. central bank decided against raising interest rates for now.

Air France union meeting to discuss strike planned for Tuesday: official

PARIS (Reuters) - A union at Air France has called for a meeting with other unions at the airline on Tuesday to decide whether to go ahead with strike plans, its head Miguel Fortea told Reuters on Thursday.

The Dow Is Up 1000 Points From Post-Payrolls Lows

Because the worst jobs data in years is reason to BTFD at a record pace... what a farce...

Charts: Bloomberg

Fed's Rate Delay Spurred by Worry Over Low Inflation

Federal Reserve officials held off on raising short-term rates at their September meeting because of worries about when inflation would rise to 2% after running below that target for more than three years.

Stocks Climb as Fed Remains Uneasy on Inflation

U.S. stocks rose after notes from last month’s Federal Reserve meeting suggested the central bank is looking for additional inflation before increasing interest rates.

U.S. Oil Prices Briefly Top $50

U.S. oil futures rose Thursday, briefly topping $50 a barrel for the first time since July, as traders looked past immediate high supplies and focused on expectations of shrinking U.S. production.

17 September 2015 FOMC Meeting Minutes: The Deer In the Headlights - When To Raise the Federal Funds Rate.

Fed-sealSMALLThe 17 September 2015 meeting statement presented the actions taken. This post covers the economic discussion during this FOMC meeting between the members (minutes were released today). There was a significant amount of discussion when to raise the federal funds rate: The quote of these minutes was:

... most participants continued to anticipate that, based on their assessment of current economic conditions and their outlook for economic activity, the labor market, and inflation, the conditions for policy firming had been met or would likely be met by the end of the year. However, some participants judged that the downside risks to the outlook for economic growth and inflation had increased .....

The last few paragraphs below discuss in detail the "deer in the headlights" situation of when to begin to raise the federal funds rate.

Emerging Markets Report: Goldman cuts target for volatile Chinese stocks

Goldman Sachs on Thursday cut its year-end target for Chinese stocks but projected the market to stabilize from its recent roller coaster ride.

Market Snapshot: Dow industrials climb after Fed minutes

The Dow industrials climb in late afternoon trade on Thursday, as investors reacted to the release of minutes from the Federal Reserve’s most recent policy-setting meeting.

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